Prices were 0.3 per cent higher in the first quarter of this year compared to the preceding three-month period.
Russell Galley, managing director of Halifax, said the renewed activity in March followed a subdued start to the year.
“Casting our minds back 12 months, few could have predicted quite how well the housing market would ride out the impact of the pandemic so far, let alone post growth of more than £1,000 per month on average,” Mr Galley said.
“The continuation of government support measures has been key in boosting confidence in the housing market. The extended stamp duty holiday has put another spring in the step of home movers, while for those saving hard to buy their first home, the new mortgage guarantee scheme provides an alternative route on to the property ladder.”
House prices hit record high after stamp duty holiday extension
Prices have risen by 6.5pc in the last year, as economists suggest growth rates could climb into double digits
Market has been buoyed by Government efforts to protect against house price drops
House prices surged to a record high last month in a market resurgence driven by huge buyer demand.
The average price of a property in the UK rose to 6.5pc in the year to March 2020, hitting £254,606 in March, according to Halifax bank.
It comes as analysis firm Capital Economics forecast house price inflation could go into double figures over the summer.
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House prices continue to rise in Northern Ireland amid significant surge in demand The increase in enquiries from new buyers during March was the sharpest increase in the 15-year history of the NI residential market survey. Ryan McAleer 08 April, 2021 01:00
A SIGNIFICANT upsurge in demand for housing in the north continued to push prices up last month, according to the latest survey of industry professionals.
Research by the Royal Institute of Chartered Surveyors (RICS) and Ulster Bank found new buyer enquiries rose sharply during March.
The increase in enquiries from new buyers during the month was the sharpest increase in the 15-year history of the monthly Northern Ireland residential market survey.
Property prices to rocket as housing supply shortage intensifies
Predictions of price rises are at the highest level since the pandemic began
8 April 2021 • 6:00am
The housing boom is expected to accelerate in the coming months as a property supply shortage could cause a “bottleneck” in the market and push up prices.
Surveyors said they had witnessed an immediate surge in property sales in March, following the extension to the stamp duty holiday. In many cases buyers have been forced to submit offers way in excess of the asking price to secure properties.
However rising prices have not deterred buyers and predictions of rising increased sales activity are now at their highest level since January 2020, according to the latest industry survey by the Royal Institution of Chartered Surveyors.